Lumbard & Kellner, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Lumbard & Kellner, LLC reported 79 stock positions worth $232.7 million. Its top holding was Arcadium Lithium (ALTM) at 5.1% of the portfolio, followed by Oracle (ORCL, 4.7%) and Metlife (MET, 3.9%). Compared with Q3 2024, it opened 5 new positions, sold out of 5, added to 10 and reduced 45. The biggest buy was Arcadium Lithium (ALTM, shares +30%) and the biggest sale Lockheed Martin (LMT, shares −23%).
- Most Recent 13F
- Q2 2026
- Location
- HOLLIS, NH
- CIK
- 0001602476
- Portfolio Value
- $232.7M (Q4 2024)
- SEC Filing
- 0001602476-25-000001 ↗ filed Feb 14, 2025
Holdings Value
Holdings 79 stocks · $232.7M
| ALTM Arcadium Lithium PLC | 5.06% | 2,293,805 | $11.8M | Add +30.2% |
| ORCL Oracle Corp. | 4.73% | 66,012 | $11.0M | Reduce -3.4% |
| MET Metlife Inc. | 3.87% | 109,915 | $9.0M | Reduce -5.9% |
| GOOG Alphabet Inc. Class C | 3.80% | 46,393 | $8.8M | Reduce -2.6% |
| VYMI Vanguard Int High DVD YLD Inc. | 3.35% | 114,846 | $7.8M | Reduce -4.7% |
| BE Bloom Energy Corp. Class A | 3.30% | 345,372 | $7.7M | Reduce -7.5% |
| RSP Invesco S&P 500 Equal Weight | 3.22% | 42,764 | $7.5M | Reduce -4.1% |
| GS Goldman Sachs Group Inc. | 3.07% | 12,486 | $7.1M | Reduce -2.5% |
| XBI SS SPDR S&P Biotech ETF | 2.95% | 76,310 | $6.9M | Reduce -4.6% |
| KMI Kinder Morgan Inc. | 2.86% | 242,687 | $6.6M | Reduce -36.6% |
| PBR Petroleo Brasileiro-Spon ADR | 2.85% | 516,345 | $6.6M | Add +17.5% |
| CSCO Cisco Systems Inc. | 2.65% | 103,992 | $6.2M | Reduce -3.5% |
| NOC Northrop Grumman Corp. | 2.43% | 12,063 | $5.7M | Reduce -5.4% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 2.41% | 102,635 | $5.6M | New |
| BIL SS SPDR BB 1-3M T-Bill ETF | 2.39% | 60,900 | $5.6M | Reduce -1.4% |
| CIEN Ciena Corp. | 2.34% | 64,258 | $5.4M | Reduce -2.6% |
| LMT Lockheed Martin Corp. | 2.27% | 10,852 | $5.3M | Reduce -22.8% |
| SO The Southern Co. | 2.23% | 63,035 | $5.2M | Reduce -4.4% |
| FLKR Franklin Ftse South Korea | 2.12% | 283,469 | $4.9M | Add +26.2% |
| FSLR First Solar Inc. | 2.05% | 27,127 | $4.8M | New |
| MSFT Microsoft Corp. | 1.83% | 10,095 | $4.3M | Add +5.7% |
| NFE New Fortress Energy Inc. | 1.70% | 261,700 | $4.0M | Reduce -23.2% |
| WWW Wolverine World Wide Inc. | 1.66% | 173,660 | $3.9M | Reduce -38.8% |
| VTI VG Morningstar TS MKT ETF-US | 1.61% | 12,940 | $3.8M | Reduce -18.9% |
| EIDO iShares MSCI Indonesia ETF | 1.60% | 201,638 | $3.7M | Reduce -1.7% |
| FLBR Franklin Ftse Brazil ETF | 1.59% | 261,352 | $3.7M | Reduce -5.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.46% | 5 | $3.4M | Add +25.0% |
| VAL Valaris Ltd. | 1.42% | 74,924 | $3.3M | Reduce -5.2% |
| HBM Hudbay Minerals Inc. | 1.42% | 409,139 | $3.3M | Reduce -0.5% |
| AAPL Apple Inc. | 1.34% | 12,421 | $3.1M | Reduce -17.3% |
| PRU Prudential Financial Inc. | 1.33% | 26,150 | $3.1M | Reduce -6.5% |
| VEU Vanguard Ftse All-World Ex-U | 1.31% | 52,989 | $3.0M | Reduce -0.4% |
| DV Doubleverify Holdings Inc. | 1.30% | 157,551 | $3.0M | Reduce -4.9% |
| PFE Pfizer Inc. | 1.28% | 112,423 | $3.0M | Reduce -4.4% |
| GPRE Green Plains Inc. | 1.16% | 285,441 | $2.7M | Reduce -4.8% |
| PPL PPL Corp. | 1.15% | 82,614 | $2.7M | Reduce -4.0% |
| FE Firstenergy Corp. | 1.15% | 67,079 | $2.7M | Reduce -1.2% |
| KTOS Kratos Defense & Security | 1.14% | 100,769 | $2.7M | New |
| FRDM Freedom 100 Emeging MRKT ETF | 1.10% | 78,234 | $2.6M | Reduce -2.7% |
| SDRL Seadrill Limited | 1.06% | 63,499 | $2.5M | Reduce -4.2% |
| OI O-I Glass Inc. | 1.03% | 221,049 | $2.4M | Reduce -5.3% |
| LLY Eli Lilly & Co. | 1.03% | 3,093 | $2.4M | No change |
| PLUS Eplus Inc. | 0.99% | 31,061 | $2.3M | Reduce -4.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.74% | 2,932 | $1.7M | No change |
| CLIP Global X 1-3 Month T-Bill | 0.66% | 15,427 | $1.5M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.60% | 3,085 | $1.4M | Reduce -0.2% |
| STNG Scorpio Tankers Inc. | 0.48% | 22,520 | $1.1M | Reduce -21.0% |
| JPM JPMorgan Chase & Co. | 0.44% | 4,262 | $1.0M | Add +6.4% |
| UNH Unitedhealth Group Inc. | 0.43% | 2,000 | $1.0M | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.41% | 1,865 | $953K | Reduce -11.8% |
| XOM Exxon Mobil Corp. | 0.41% | 8,813 | $948K | Reduce -7.2% |
| AMAT Applied Materials Inc. | 0.38% | 5,400 | $878K | Reduce -8.5% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.37% | 5,065 | $858K | No change |
| HON Honeywell International Inc. | 0.33% | 3,368 | $761K | Add +1.9% |
| VT Vanguard Tot World STK ETF | 0.32% | 6,297 | $740K | Add +0.0% |
| WELL Welltower Inc. | 0.30% | 5,496 | $693K | No change |
| JOE The St Joe Co. | 0.27% | 13,904 | $625K | Add +26.5% |
| XLK SS Technology Select Sector | 0.27% | 2,672 | $621K | Reduce -7.7% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.25% | 17,141 | $585K | Reduce -26.4% |
| GM General Motors Co. | 0.22% | 9,550 | $509K | No change |
| MRK Merck & Co. Inc. | 0.20% | 4,671 | $465K | No change |
| RTX RTX Corp. | 0.19% | 3,734 | $432K | Add +2.4% |
| PG The Procter & Gamble Co. | 0.18% | 2,504 | $420K | No change |
| IVV iShares Core S&P 500 ETF | 0.18% | 700 | $412K | Reduce -8.7% |
| PEP Pepsico Inc. | 0.17% | 2,640 | $401K | No change |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.17% | 972 | $399K | No change |
| CMCSA Comcast Corp. Class A | 0.16% | 9,660 | $363K | Reduce -49.7% |
| GE General Electric filed as GE AEROSPACE | 0.15% | 2,085 | $348K | No change |
| NI Nisource Inc. | 0.13% | 8,000 | $294K | No change |
| AMZN Amazon.com Inc. | 0.12% | 1,235 | $271K | No change |
| AXP American Express Co. | 0.11% | 870 | $258K | No change |
| HD Home Depot Inc. | 0.11% | 654 | $254K | New |
| KEY Keycorp | 0.10% | 13,760 | $236K | No change |
| PM Philip Morris International | 0.10% | 1,900 | $229K | No change |
| SPTM SS SPDR P S&P 1500 Comp ETF | 0.09% | 2,988 | $213K | Reduce -11.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.09% | 950 | $209K | No change |
| JNJ Johnson & Johnson | 0.09% | 1,440 | $208K | Reduce -8.3% |
| MDY State Street SPDR S&P Midcap | 0.09% | 360 | $205K | No change |
| DOV Dover Corp. | 0.09% | 1,085 | $204K | No change |
Portfolio Sells Q3 2024 → Q4 2024
| LMT Lockheed Martin Corp. | Reduce -22.8% | 2.27% | −1.35 |
| KMI Kinder Morgan Inc. | Reduce -36.6% | 2.86% | −0.87 |
| GPRE Green Plains Inc. | Reduce -4.8% | 1.16% | −0.63 |
| FLBR Franklin Ftse Brazil ETF | Reduce -5.2% | 1.59% | −0.62 |
| VYMI Vanguard Int High DVD YLD Inc. | Reduce -4.7% | 3.35% | −0.55 |
| NOC Northrop Grumman Corp. | Reduce -5.4% | 2.43% | −0.53 |
| XBI SS SPDR S&P Biotech ETF | Reduce -4.6% | 2.95% | −0.53 |
| WWW Wolverine World Wide Inc. | Reduce -38.8% | 1.66% | −0.52 |
| VAL Valaris Ltd. | Reduce -5.2% | 1.42% | −0.52 |
| EIDO iShares MSCI Indonesia ETF | Reduce -1.7% | 1.60% | −0.43 |
| PLUS Eplus Inc. | Reduce -4.0% | 0.99% | −0.42 |
| STNG Scorpio Tankers Inc. | Reduce -21.0% | 0.48% | −0.41 |
| ORCL Oracle Corp. | Reduce -3.4% | 4.73% | −0.40 |
| SO The Southern Co. | Reduce -4.4% | 2.23% | −0.39 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -18.9% | 1.61% | −0.38 |
| MET Metlife Inc. | Reduce -5.9% | 3.87% | −0.38 |
| OI O-I Glass Inc. | Reduce -5.3% | 1.03% | −0.32 |
| RSP Invesco S&P 500 Equal Weight | Reduce -4.1% | 3.22% | −0.30 |
| HBM Hudbay Minerals Inc. | Reduce -0.5% | 1.42% | −0.24 |
| PFE Pfizer Inc. | Reduce -4.4% | 1.28% | −0.22 |
| AAPL Apple Inc. | Reduce -17.3% | 1.34% | −0.20 |
| CMCSA Comcast Corp. Class A | Reduce -49.7% | 0.16% | −0.20 |
| FDX FedEx Corp. | Sold out | 0.00% | −0.18 |
| FE Firstenergy Corp. | Reduce -1.2% | 1.15% | −0.18 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -0.4% | 1.31% | −0.17 |
| FRDM Freedom 100 Emeging MRKT ETF | Reduce -2.7% | 1.10% | −0.17 |
| PRU Prudential Financial Inc. | Reduce -6.5% | 1.33% | −0.16 |
| DXJ Wisdomtree Japan Hedged Eq | Sold out | 0.00% | −0.15 |
| AMAT Applied Materials Inc. | Reduce -8.5% | 0.38% | −0.15 |
| SPDW Ste STR SPDR PT DW Eu ETF | Reduce -26.4% | 0.25% | −0.13 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -1.4% | 2.39% | −0.11 |
| CWH Camping World Holdings Inc. Class A | Sold out | 0.00% | −0.10 |
| PPL PPL Corp. | Reduce -4.0% | 1.15% | −0.10 |
| FCX Freeport-McMoran Inc. | Sold out | 0.00% | −0.10 |
| SDRL Seadrill Limited | Reduce -4.2% | 1.06% | −0.10 |
| XOM Exxon Mobil Corp. | Reduce -7.2% | 0.41% | −0.08 |
| F Ford Motor Co. | Sold out | 0.00% | −0.07 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -11.8% | 0.41% | −0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.2% | 0.60% | −0.03 |
| JNJ Johnson & Johnson | Reduce -8.3% | 0.09% | −0.02 |
| XLK SS Technology Select Sector | Reduce -7.7% | 0.27% | −0.02 |
| IVV iShares Core S&P 500 ETF | Reduce -8.7% | 0.18% | −0.02 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Reduce -11.7% | 0.09% | −0.01 |
| DV Doubleverify Holdings Inc. | Reduce -4.9% | 1.30% | +0.07 |
| CSCO Cisco Systems Inc. | Reduce -3.5% | 2.65% | +0.12 |
| GS Goldman Sachs Group Inc. | Reduce -2.5% | 3.07% | +0.28 |
| GOOG Alphabet Inc. Class C | Reduce -2.6% | 3.80% | +0.29 |
| NFE New Fortress Energy Inc. | Reduce -23.2% | 1.70% | +0.34 |
| CIEN Ciena Corp. | Reduce -2.6% | 2.34% | +0.55 |
| BE Bloom Energy Corp. Class A | Reduce -7.5% | 3.30% | +1.56 |
Portfolio Buys Q3 2024 → Q4 2024
| ALTM Arcadium Lithium PLC | Add +30.2% | 5.06% | +2.85 |
| SPMD SS SPDR P S&P 400 Midcap ETF | New | 2.41% | +2.41 |
| FSLR First Solar Inc. | New | 2.05% | +2.05 |
| KTOS Kratos Defense & Security | New | 1.14% | +1.14 |
| CLIP Global X 1-3 Month T-Bill | New | 0.66% | +0.66 |
| BRK.A Berkshire Hathaway Inc. Class A | Add +25.0% | 1.46% | +0.25 |
| HD Home Depot Inc. | New | 0.11% | +0.11 |
| JPM JPMorgan Chase & Co. | Add +6.4% | 0.44% | +0.07 |
| PBR Petroleo Brasileiro-Spon ADR | Add +17.5% | 2.85% | +0.06 |
| HON Honeywell International Inc. | Add +1.9% | 0.33% | +0.03 |
| FLKR Franklin Ftse South Korea | Add +26.2% | 2.12% | +0.02 |
| MSFT Microsoft Corp. | Add +5.7% | 1.83% | +0.02 |
| RTX RTX Corp. | Add +2.4% | 0.19% | −0.01 |
| JOE The St Joe Co. | Add +26.5% | 0.27% | −0.01 |
| VT Vanguard Tot World STK ETF | Add +0.0% | 0.32% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 108 | $329.9M | GOOG, MTRN, HBM, GS, SPMD |
| Q1 2026 | 99 | $288.6M | PBR, GOOG, BIL, HBM, SPMD |
| Q4 2025 | 100 | $285.5M | GOOG, BIL, GS, HBM, SPMD |
| Q3 2025 | 97 | $271.9M | BIL, GOOG, SPMD, GS, KTOS |
| Q2 2025 | 88 | $229.4M | BIL, SPMD, VYMI, GS, MET |
| Q1 2025 | 82 | $226.8M | ORCL, SPMD, MET, VYMI, RSP |
| Q4 2024 | 79 | $232.7M | ALTM, ORCL, MET, GOOG, VYMI |
| Q3 2024 | 79 | $227.0M | ORCL, MET, VYMI, KMI, LMT |
| Q2 2024 | 74 | $211.8M | ORCL, GOOG, VYMI, GS, MET |
| Q1 2024 | 70 | $205.5M | MET, VYMI, GS, PRU, RSP |